In a nation more deeply divided than ever about every conceivable issue, a broad consensus has surprisingly emerged that financial literacy is broadly lacking and the need for a financial education for every American is urgent. President Biden recently issued a proclamation deeming April 2021 as National Financial Capability Month. This communication emphasizes the benefits of financial
Retirement
Have you ever thought that the IRS could use some help, that is, to improve services to taxpayers? Would you like to make a difference on behalf of your fellow taxpayers? Taxpayers may not realize it (or might not even believe it), but there is a way they can get involved at a meaningful level
Your estate plan is much more likely to be successful when you recognize and avoid the most common mistakes and take some key actions that often are overlooked. Most estate planners will tell you that the same estate planning mistakes and oversights recur with frequency, whether an estate is worth a billion dollars, a few
If you have any interest in having the IRS hear your voice, there are two mechanisms. One is the Taxpayer Advocacy Panel (TAP), which is a volunteer effort with a three-year commitment. Another means of getting through to the IRS is the yearly Priority Guidance Plan (PGP). As the new year for the IRS begins
Sometimes it makes sense to add risky assets to a conservative portfolio. Holy grail for the fixed-income investor: an asset that has a decent return of its own and runs counter to the bond market. Blend this magic stuff with your Treasury bonds and you’d have a solid core holding—something that wouldn’t be utterly destroyed
President Biden’s proposed massive expansion of Medicaid home-based long-term care is running into trouble in the Senate. And it may be done in, not by hard-core conservatives, but by a small group of self-styled Senate moderates. In his American Jobs Plan, Biden proposed increasing the federal share of Medicaid’s home and community-based services (HCBS) program
When the pandemic hit, priorities changed overnight. Healthy and working became the litmus test of whether you were on the fortunate side of the COVID-19 coin. This reduction in expectations has changed views on wealth. In its annual Modern Wealth Survey, Charles Schwab asked 1,000 people in the US to gauge their views on how
You Might Need to Plan Now Even if You’re Not Really Wealthy For wealth folks reviewing and beefing up insurance coverage and planning before income and estate tax rates may rise may be an obvious step. But, urgent planning is needed by many even moderate wealth taxpayers now! Very wealthy people are pursuing estate tax
Last Friday, the New York Times made a splash with its report, “Long Slide Looms for World Population, With Sweeping Ramifications,” laying out the consequences of persistently-low fertility rates all across the globe. “The strain of longer lives and low fertility, leading to fewer workers and more retirees, threatens to upend how societies are organized
For many contemplating retirement, one’s future living arrangements is the most thought about – yet least acted upon – aspect of retirement planning. According to the U.S. Bureau of Labor Statistics even though housing is the largest average cost in retirement, older Americans move far less often than the general population. The home is the